Sartorius rises as Bioprocessing orders boost 9M results

Sartorius AG

17/10/2024 08:44

** Shares in Sartorius  SATG.DE  rise 11.7% after the
pharmaceutical equipment supplier posted its 9M results, with
better-than-expected bioprocessing order intake, confirmed FY
guidance
    ** The German company's 9M order intake rose 6.6% in
constant currencies to 2.32 billion euros ($2.52 billion), as
its Bioprocess Solutions Division's (BPS) orders increased 8.4%
to 1.83 billion euros for the same period
    ** "Q3 Bioprocessing order intake came in well above
consensus at EUR 617 Mln vs consensus of EUR 603 Mln," Berenberg
says, expecting the co's shares to be particularly strong as the
market opens, given the shares remain heavily shorted
    ** J.P. Morgan expects the shares to outperform by 5-10%
today, given the strong BPS orders
    ** "Sartorius 9M numbers in-line touch better," a local
trader comments, citing that it could be good enough for a
bounce on current levels
    ** Shares in Sartorius' French unit Sartorius Stedim Biotech
 STDM.PA  are up 14.3%
    ** The stock, on track for best day since January 2019, tops
the Germany's blue-chip index and the pan-European STOXX 600
 .STOXX  index


($1 = 0.9215 euros)

 (Reporting by Ozan Ergenay)
 ((ozan.ergenay@thomsonreuters.com))